Rivian Service Center in Orlando's prime industrial corridor sold for $16.8M

MIAMI, Sept. 19, 2025 – JLL Capital Markets announced today the $16.8 million sale of a single-tenant, net-leased Rivian Service Center located at 4000 Shader Rd. in Orlando, Florida, to Automotive Properties REIT.

JLL represented the seller, Ultimate Realty LLC, in the transaction.

The facility, with an industrial outdoor storage (IOS) component, is 100% leased to Rivian Automotive Inc. (NASDAQ: RIVN), a market-leading electric vehicle manufacturer. The 34,938-square-foot industrial facility is situated on an oversized 6.44-acre parcel within the Seaboard Industrial Park corridor, a dense industrial enclave that houses globally renowned industrial tenants, including Coca-Cola Beverages Florida, Crystal Springs Water, Florida Distributing Co., LLC (Miller Lite) and Frito-Lay / Tech Packing Inc. 

Originally an office building, the property was acquired by Ultimate and extensively renovated in 2025, including substantial tenant-funded improvements to accommodate Rivian’s next-generation service center operations for both consumer and commercial fleet vehicles.

The tilt-wall construction building features two grade-level doors, fully air-conditioned service bays with exterior rollup doors, modern office space, conference rooms and a customer lounge. The site also includes 408 parking spaces, along with 26 Level 2 electric vehicle chargers and six Level 3 fast chargers strategically positioned throughout the property.

The property is mission-critical to Rivian due to its strategic location, just a block northeast of a one-million-square-foot distribution facility occupied by an international online retailer. This retailer has a partnership with Rivian, which includes servicing its EV Fleet delivery vans that deliver products across Central Florida.

Located in Orlando's Southeast Orange County submarket, the property benefits from immediate access to Florida's major transportation arteries, including Interstate 4, which carries over 170,000 vehicles daily and connects nearly half of Florida's population, from Daytona Beach to Tampa. Additional access points include Orange Blossom Trail, Florida's Turnpike, the Beachline Expressway, John Young Parkway and Orlando's Beltway (State Road 417).

The JLL Capital Markets team was led by Managing Director Cody Brais, Director Josh Katlin, Senior Director Jeffrey Cicurel, Senior Managing Director Luis Castillo and Associate Noel O’Donnell.

"Our team is proud to mark another successful sale alongside the Ultimate Realty team, who executed on this remarkable office-to-industrial reposition," said Cody Brais, co-lead of JLL’s Florida Industrial Investment Sales team. "This sale underpins the continued investor demand and depth for Central Florida industrial that our team has experienced, with both NNN investors and pure-play industrial and IOS investors having submitted LOIs during marketing of this asset."

"This transaction is a testament to what happens when market-leading tenancy converges with a Class A asset in a highly desirable growth market," added Katlin, Director with JLL's National Corporate Capital Markets & Net Lease team. "The sheer volume of aggressive private and institutional capital this opportunity attracted proves that today’s most sophisticated investors are placing a premium on investments where a tenant's long-term success at the site is inextricably linked to the real estate itself. The ability to acquire a 6.44-acre site in infill Orlando created an exceptional opportunity for investors."

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge deliver best-in-class solutions for clients — whether in investment sales and advisory, debt advisory, equity advisory, or recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500 company with annual revenue of $23.4 billion and operations in over 80 countries around the world, our more than 112,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY^SM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.

Ultimate Realty, LLC is a New York-based real estate investment management firm founded in 1996, that acquires and develops multi-family, commercial, retail, and industrial holdings throughout the United States. Since its inception, Ultimate Realty has acquired or developed over $2 Billion of real estate. Ultimate Realty’s principals, Joe, Mark, and Michael Sabbagh, bring a combined 50+ years of experience as seasoned owners/operators of commercial real estate, with Ultimate Realty historically investing in industrial, retail, and multi-family assets in opportunistic, value-add, and core-plus strategies. Ultimate Realty’s current holdings span New York, New Jersey, Pennsylvania, Connecticut, Florida, Georgia, and Puerto Rico, with a strong recent focus on industrial assets as per over 2.5 million SF acquired.

https://www.ultimaterealtyllc.com/.